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  • Max Capital president of reinsurance and co-founder John Doucette has left the company to "pursue other opportunities".
  • As the second quarter earnings season begins in earnest, asset drag and casualty reserve releases are expected to emerge as dominant themes, while investors will look for guidance on the spate of weather-related losses and potential sub-prime liability...
  • Bermudian (re)insurer XL Capital's woes appear to have deepened this week with at least one insurer, understood to be Chubb, taking the company off its security list for facultative placements, The Insurance Insider can reveal.
  • Law firm Clyde & Co has hired Susan Stryker, formerly of Sterns & Weinroth, as it seeks to expand its US (re)insurance practice.
  • Towergate Partnership subsidiary Towergate Financial has raised over £100mn to establish a national independent financial adviser (IFA) operation which it plans to build with the acquisition of regional IFAs.
  • Willis Group Holdings named Gary Schmalzriedt as the chairman of its reinsurance brokerage, Willis Re, last week.
  • Bermudian-headquartered Scottish Re has seen one of its subsidiaries sink further into junk status last week just days after the embattled reinsurer finally published its full-year results.
  • AM Best has left the ratings of Zurich Financial Services (ZFS) unchanged following the acquisition of a 50 percent stake in Spanish bank Banco Sabadell's insurance subsidiaries.
  • UK motor underwriters were buoyed by the news that average premiums increased in the second quarter after reporting falling rates for the first quarter, according to the AA's Insurance Index.
  • Lloyd's is "better positioned" to weather the current insurance cycle thanks to recent initiatives to shore up capital and limit pressure on the central fund, according to rating agency Moody's.